Spirit Airlines Inc. (SAVE) Upgraded to “Strong-Buy” at Vetr Inc.
Spirit Airlines Inc. (NASDAQ:SAVE) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday. The brokerage presently has a $48.00 price objective on the stock. Vetr‘s target price would indicate a potential upside of 13.64% from the stock’s previous close.
SAVE has been the subject of several other reports. Imperial Capital started coverage on shares of Spirit Airlines in a research note on Thursday, September 29th. They set an “outperform” rating and a $51.00 target price for the company. Deutsche Bank AG cut their target price on shares of Spirit Airlines from $56.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, August 1st. Credit Suisse Group AG set a $55.00 target price on shares of Spirit Airlines and gave the company a “buy” rating in a research note on Tuesday, September 13th. Citigroup Inc. reiterated a “buy” rating and set a $56.00 target price on shares of Spirit Airlines in a research note on Tuesday, July 19th. Finally, Zacks Investment Research cut shares of Spirit Airlines from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 29th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $58.50.
Spirit Airlines (NASDAQ:SAVE) opened at 42.24 on Monday. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 9.86 and a beta of 1.18. Spirit Airlines has a 1-year low of $32.73 and a 1-year high of $53.53. The firm’s 50-day moving average is $40.12 and its 200-day moving average is $43.22.
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Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings data on Friday, July 29th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.03. The business earned $584.10 million during the quarter, compared to the consensus estimate of $594.47 million. Spirit Airlines had a net margin of 13.83% and a return on equity of 25.93%. Spirit Airlines’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 EPS. On average, equities analysts anticipate that Spirit Airlines will post $3.91 EPS for the current year.
A number of large investors have recently modified their holdings of the company. Aperio Group LLC raised its stake in shares of Spirit Airlines by 45.3% in the first quarter. Aperio Group LLC now owns 7,332 shares of the company’s stock worth $352,000 after buying an additional 2,286 shares in the last quarter. Teachers Advisors Inc. raised its stake in shares of Spirit Airlines by 5.0% in the first quarter. Teachers Advisors Inc. now owns 57,325 shares of the company’s stock worth $2,750,000 after buying an additional 2,746 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Spirit Airlines by 61.6% in the first quarter. Franklin Resources Inc. now owns 1,535,908 shares of the company’s stock worth $73,692,000 after buying an additional 585,523 shares in the last quarter. BlackRock Inc. raised its stake in shares of Spirit Airlines by 166.7% in the first quarter. BlackRock Inc. now owns 7,897 shares of the company’s stock worth $379,000 after buying an additional 4,936 shares in the last quarter. Finally, Palisade Capital Management LLC NJ bought a new stake in shares of Spirit Airlines during the first quarter worth approximately $2,688,000. 98.20% of the stock is currently owned by hedge funds and other institutional investors.
About Spirit Airlines
Spirit Airlines, Inc is an airline company. The Company’s all-Airbus fleet operates more than 385 daily flights to 56 destinations in the United States, Caribbean and Latin America. Its ultra-low-cost carrier (ULCC) business model provides low, unbundled base fares that remove components traditionally included in the price of an airline ticket.
To view Vetr’s full report, visit Vetr’s official website.
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